If you've got $2,000 ready to put to work on the ASX this month, then it could be worth considering the high-quality ASX 200 growth shares in this article.
That's because they are rated as buys by analysts and tipped to grow strongly in the coming years.
Here are three standouts that could be worth considering in August.
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Life360 Inc (ASX: 360)
Life360 is a fast-growing technology company best known for its family safety and location-sharing app. It has been winning over millions of users globally thanks to features like driving safety reports, crash detection, and emergency assistance.
The ASX 200 growth share is currently scaling up its subscription model, with its paid tiers driving recurring revenue growth. Management has also been actively monetising its large user base in the US with a new advertising business while expanding internationally. With strong double-digit revenue and earnings growth on the cards in the coming years, Life360 could reward investors handsomely.
Citi is bullish on its shares and initiated coverage with a buy rating and $46.20 price target this month.
NextDC Ltd (ASX: NXT)
Another ASX 200 growth share that could be a buy is NextDC. It is Australia's leading data centre operator and a clear beneficiary of the ongoing cloud computing and artificial intelligence boom. Its state-of-the-art facilities house the servers and networking gear that power the internet, with high-profile tech giants among its customer base.
Data centre demand is surging as enterprises shift to the cloud and as AI workloads require massive new computing power. NextDC has been expanding aggressively, with new centres in Sydney, Melbourne, and internationally to capture that demand. Revenue is highly recurring, and its long-term contracts provide predictable cash flows. If the digital economy continues its rapid growth, NextDC is poised to be a key infrastructure winner.
Morgans believes it has a very bright outlook. As a result, it recently put a buy rating and $18.80 price target on its shares.
Telix Pharmaceuticals Ltd (ASX: TLX)
Finally, Telix could be an ASX 200 growth share to buy with the $2,000. It is a rapidly growing biotech company that specialises in radiopharmaceuticals. These are cutting-edge drugs that combine medical imaging with targeted cancer therapy. Its lead product, Illuccix, is used for prostate cancer imaging and is seeing strong uptake in the United States.
The company has a promising pipeline, including additional cancer imaging and therapy candidates, and analysts expect strong revenue growth over the coming years.
One of those is Bell Potter, which has a buy rating and $34.00 price target on its shares.
